Informa (INF) Trading Update summary

Trading performance and financial outlook

• Achieved 10.1% underlying revenue growth over five months, with revenues of approximately £1.4bn year to date and strong visibility for the remainder of 2024.

• On track for high single-digit underlying revenue growth and £720m+ free cash flow in 2024, with group revenue expected between £3,450m and £3,500m and adjusted operating profit of £950m to £970m.

• Enhanced credit ratings from Moody's (Baa2) and S&P Global (BBB) reflect strong operating performance and disciplined capital allocation.

Strategic initiatives and business development

• Focus on specialist markets, unique content, and internationalisation is driving double-digit revenue growth, margin expansion, and increased profits.

• Strong demand for live B2B experiences and investment in digital platforms and first-party data are fueling value and volume growth across all regions.

• Consistent growth in academic markets, with investments in author services and pay-to-publish platforms supporting strong subscription renewals and open research acceleration.

• AI technology deployment is delivering product benefits and operational efficiencies, with further exploration through partnerships and data access agreements.

M&A and partnership activity

• Proposed combination of Informa Tech's digital businesses with NASDAQ-listed TechTarget is on track to complete in Q4 2024, aiming to create a leading B2B digital services business.

• Partnerships in Saudi Arabia (Tahaluf), China (Sinoexpo), Banking Intelligence (Curinos), and Beauty (BolognaFiere) are contributing to accelerated growth in key regions and sectors.